Is there an S in urban housing supply? or What on earth happened in Detroit?

Allen C. Goodman

Journal of Housing Economics, 2013, vol. 22, issue 3, 179-191

Abstract: This article examines the substantial housing stock declines between 2000 and 2010 in many major US central cities. It updates an analysis first formulated in the 1970s, of an S-shaped housing supply curve, to explain decreases in absolute housing stocks. Explanatory variables include Metropolitan Statistical Area standardized rents, center city prior occupancy rates, regional unemployment rates, and a set of regional and state dummy variables. The analysis provides strong evidence of a lower tail of the S, and more tentative evidence of an upper tail. Market fundamentals explain a considerable portion of the large housing stock losses, but in several cities loss of dwelling units and housing abandonment were worse than could be explained by the fundamentals.

Keywords: Housing supply; Housing abandonment; Central cities (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:22:y:2013:i:3:p:179-191

DOI: 10.1016/j.jhe.2013.05.001

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